Perry Bass passed reins of family's oil fortune to son Sid 1968; Robert struck out on his own that same year. His Oak Hill investment group manages $26 billion; raised $900 million to buy distressed debt this year. With Pritzker family, bought 8 TV stations from News Corp. for $1.1 billion, adding to 9 already owned. Bulking up on aerospace: bought engine parts maker Firth Rixson for $2 billion; owns stakes in partsmaker Primus, freight carrier Cargo 360 and Aerion, which reportedly has a $3 billion backlog in orders for supersonic business jets. In February forced New York Times to print correction after article alleged one of his TV stations purposefully blacked out a 60 Minutes segment critical of Karl Rove.